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The rate on the popular inflation-protected I bonds — one of the safest investments you can buy — slipped to 6.89% through April 2023 from 9.62, according to the Treasury Department.
Find out how the I bonds current rate of 3.11% impacts returns for both new and current investors in today’s inflation environment.
If a bond's compounded interest does not meet the guaranteed doubling of the purchase price, Treasury will make a one-time adjustment to the maturity value at 20 years, giving it an effective rate of 3.5%. The bond will continue to earn the fixed rate for 10 more years. All interest is paid when the holder cashes the bond.
This disparity is due to differing coupon cash flow streams over the life of the two bonds, even when the maturity date and coupon payment dates are exactly the same. [2] Finance scholar Frank J. Fabozzi has stated that because of the coupon effect, a yield-to-maturity yield curve should not be used to value bonds. [ 3 ]
The rate on the popular inflation-protected I bonds slipped to 6.89% through April 2023 from 9.62%.
Inflation has cooled from a recent peak of 9.1% in June 2022. I Bond rates have pulled back, too. What's will new rates look like beginning in May?